Big fuel price hike on the cards for September

Johannesburg - South African motorists will be hit with a substantial fuel price increase in September, according to the Automobile Association, with month-end data pointing towards a price increase of around 61 cents a litre for petrol and 46 cents a litre for diesel.

The final price adjustment, based on data up to Thursday, August 31, is likely to be announced by the Department of Energy on Friday, and the price increases will come into effect on Wednesday, September 6.

A litre of 95 Unleaded petrol currently costs R12.56 at the coast and R13.05 in Gauteng.

"The majority of the increase is attributable to strength in international petroleum prices, with just four cents of the hikes due to Rand weakness," the AA said.

"If oil continues to climb, South Africans should expect further pain at the pumps in the upcoming months."

The rand could work in our favour if it continues to strengthen like it has in recent days however, inching below the $13 mark on Tuesday after spending most of the month in the $13.20 to $13.49 range, but any meaningful relief would also depend on stable oil prices.